Has anyone had this before?
My normal mortgage payment, principal and tax, is say $1,500. My mortgage company decided to pay for my insurance of $550 and added $115 a month, so my monthly payment is $1,615. I called a few times and they always assured me that once I had reimbursed them the $550, my payment would go back down to the original $1,500.
Now that I am 7 months into these payments, I have not seen a reduction in my monthly payment so I called again and they now say they only do yearly escrow assessments. So in November of this year, they will do another assessment, and will hopefully see that I have paid maybe $700-800 too much, and supposedly reduce my monthly payment to less than the original $1,500. I asked if they will give me any interest on holding my money for 6-months+, and of course they said no.
Is this normal? This is a well known mortgage company.
Submitted May 18, 2017 at 02:05PM by CTRL_ALT_PWN http://ift.tt/2qWwsJt
